The Cayman Islands is a Commonwealth jurisdiction so the remedies that are available here are similar to those available in England and Canada.
If the debtor is a Cayman company an application could be made to place the company into liquidation. There are different grounds upon which such an application can be brought but a common basis is where it can be established that the company is unable to pay its debts. Upon a winding up order being made the company would be under the control of Court appointed liquidators who are obligated to investigate the affairs of the company, realize its assets and apply those assets in satisfaction of the company’s liabilities.
Freezing orders are also available in Cayman if you can establish a good arguable case and a real risk that absent an injunction being granted the defendant will remove or dissipate the assets. These applications are often obtained on an urgent basis, without notice to the defendant, in order to ensure that the resulting order is effective. It is common to also obtain as part of the freezing order an order requiring the defendant to provide an affidavit disclosing all of their assets.
Turning specifically to enforcement, once assets have been identified there are a number of different enforcement options available including the appointment of a receiver, garnishee proceedings, and charging orders.
